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Lite Access Technologies Inc raises C$3.53mln

Tuesday, October 4, 2016 6:25
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Lite Access Technologies Inc (CNSX:LTE) has closed its private placement financing, raising C$3.53mln.

In total the world leader in microduct and air-blown fibre optic technologies issued a total of 3.1mln shares at a price of C$1.15 per share.

The proceeds from the financing will be used to finance the expansion of the company’s newly launched UK operations office, working capital, and to accelerate near-term and longer-term growth initiatives.

“We are pleased with the overwhelming support for this financing and welcome new Lite Access shareholders,” said Michael Plotnikoff, chief executive officer of Lite Access.

“We are proud of our accomplishments thus far and are even more enthusiastic about the significant growth opportunities that lie ahead,” he added.

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